Retail projects galore in area

Published: Tuesday, July 1, 2014 at 1:00 a.m.

Last Modified: Monday, June 30, 2014 at 6:42 p.m.

In October, the $315 million Mall at University Town Center will open, with new retailers and restaurants expected to sprout up around it.

Then Westfield Group will debut the new Westfield Siesta Key, a revamped, outdoor shopping center version of Southgate Mall, at Bee Ridge Road and U.S. 41.

And now a new player is at the table with a project that might emerge not long after that: Benderson Development -- one of the Mall at UTC's developers -- is proposing a similar outdoor, lifestyle shopping center and a four-story hotel at the corner of Stickney Point Road and U.S. 41. The Siesta Promenade still must be approved by county officials.

Southwest Florida is unusual in the number of new, multimillion-dollar retail projects it has in the works -- not to mention the many new brands (Trader Joe's, Costco, Wawa and a slew of others headed to the Mall at UTC) that have found homes here.

A resurgence in the housing market, particularly in Lakewood Ranch, has driven development in that area.

Some worry that the retail epicenter in Southwest Florida is shifting away from the downtown market, and ultimately the wealth near the beaches, to the family friendly region in Lakewood Ranch.

But Westfield's investment in Southgate, and Benderson's interest in the south bridge to Siesta Key, might suggest otherwise.

While Southgate might be forced to change in order to compete with a new luxury player (the 880,000-square foot Mall at UTC is taking its key anchor, Saks Fifth Avenue, and several other Southgate tenants), the mall is still well-positioned on a busy thoroughfare in Sarasota.

Its owners plan to bring in international retailers new to Sarasota and, in some cases, the United States, and blend them with new restaurant concepts, such as Bravo! Cucina Italiana and an upscale movie theater and restaurant.

Benderson's Siesta Promenade project is expected to have a similar feel.

While its retail brands have not yet been announced, the outdoor center is planned to blend restaurants, bars, ice cream shops and streetside shopping, offering a place for residents and tourists to shop close to Siesta Key and south Sarasota's neighborhoods.

The project also calls for a 150-room hotel.

While Benderson is one of the two developers involved in the Mall at UTC, the Manatee County-based real estate development firm also has taken an interest in south Sarasota County.

The developer is renovating Pelican Plaza, which will house Total Wine & More and Sports Authority stores later this year.

Across the street, Benderson has signed Sarasota County's first Hobby Lobby, and renovated the center that once held a Kmart. Both plazas are near Westfield's community mall, Sarasota Square.

With this surge in development the question becomes whether Sarasota County is large enough to support all of these stores.

Justine Griffin, the Herald-Tribune's retail and tourism reporter, can be reached at 361-4951 or at justine.griffin@ heraldtribune.com. Follow her on Twitter @SunBizGriffin and her daily blog at whatsinstore.blogs. heraldtribune.com

<p>Retail projects in Sarasota County are booming.</p><p>In October, the $315 million Mall at University Town Center will open, with new retailers and restaurants expected to sprout up around it.</p><p>Then Westfield Group will debut the new Westfield Siesta Key, a revamped, outdoor shopping center version of Southgate Mall, at Bee Ridge Road and U.S. 41.</p><p>And now a new player is at the table with a project that might emerge not long after that: Benderson Development -- one of the Mall at UTC's developers -- is proposing a similar outdoor, lifestyle shopping center and a four-story hotel at the corner of Stickney Point Road and U.S. 41. The Siesta Promenade still must be approved by county officials.</p><p>Southwest Florida is unusual in the number of new, multimillion-dollar retail projects it has in the works -- not to mention the many new brands (Trader Joe's, Costco, Wawa and a slew of others headed to the Mall at UTC) that have found homes here.</p><p>A resurgence in the housing market, particularly in Lakewood Ranch, has driven development in that area.</p><p>Some worry that the retail epicenter in Southwest Florida is shifting away from the downtown market, and ultimately the wealth near the beaches, to the family friendly region in Lakewood Ranch.</p><p>But Westfield's investment in Southgate, and Benderson's interest in the south bridge to Siesta Key, might suggest otherwise.</p><p>While Southgate might be forced to change in order to compete with a new luxury player (the 880,000-square foot Mall at UTC is taking its key anchor, Saks Fifth Avenue, and several other Southgate tenants), the mall is still well-positioned on a busy thoroughfare in Sarasota.</p><p>Its owners plan to bring in international retailers new to Sarasota and, in some cases, the United States, and blend them with new restaurant concepts, such as Bravo! Cucina Italiana and an upscale movie theater and restaurant.</p><p>Benderson's Siesta Promenade project is expected to have a similar feel.</p><p>While its retail brands have not yet been announced, the outdoor center is planned to blend restaurants, bars, ice cream shops and streetside shopping, offering a place for residents and tourists to shop close to Siesta Key and south Sarasota's neighborhoods.</p><p>The project also calls for a 150-room hotel.</p><p>While Benderson is one of the two developers involved in the Mall at UTC, the Manatee County-based real estate development firm also has taken an interest in south Sarasota County.</p><p>The developer is renovating Pelican Plaza, which will house Total Wine & More and Sports Authority stores later this year.</p><p>Across the street, Benderson has signed Sarasota County's first Hobby Lobby, and renovated the center that once held a Kmart. Both plazas are near Westfield's community mall, Sarasota Square.</p><p>With this surge in development the question becomes whether Sarasota County is large enough to support all of these stores.</p><p>Justine Griffin, the Herald-Tribune's retail and tourism reporter, can be reached at 361-4951 or at justine.griffin@ heraldtribune.com. Follow her on Twitter @SunBizGriffin and her daily blog at whatsinstore.blogs. heraldtribune.com</p>